by J.D. Foster
The Heritage Foundation
June 18, 2013
Backgrounder
Federal government debt has nearly doubled since President Barack Obama took office. Under existing policies federal debt is projected to increase another 50 percent over the next decade and then rise rapidly thereafter. As federal debt has soared, so have concerns about America’s future. Used properly, debt can safely finance private and government investment in productive capital to support economic growth. But too much debt can ruin a family, a business, or a nation. There is still time, though not much, for substantial and effective course correction.



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